Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities told CNBC-TV18, "Power is absolutely powerless. It doesn't make sense even to think about power stocks and especially Adani Power it makes sense to stay far away from that. I think much downside is coming in power stocks as well as in Adani Power."
"As a concept power has broken and the only places where still probably if one wants to hide maybe is Hindustan Unilever (HUL) and ITC because at least till the time of open offer at least that Rs 600 level will be respected in HUL, that is the only place to hide in this market," he added. Also Read: Adani Power commissions third 660 MW unit of Maha plant
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
